NASD OTC Exchange Trade Volume Rises 7,411% Wednesday

NASD OTC market

By Adedapo Adesanya

NASD Over the Counter (OTC) Securities Exchange closed on Wednesday, October 9, 2019 with both the NASD Security Index (NSI) and market capitalization recording declines after rising at the previous trading session on Tuesday.

But yesterday, the market capitalization went down by N400 million or 0.08 percent from N501.66 billion on Tuesday to N501.26, while the NASD Security Index also dropped by 0.08 percent 0.55 points from the previously quoted 698.26 points to close at 697.71 points.

However, the level of activity improved at the mid-week session as the total volume of shares transacted rose by 7,411 percent or 389,095 units from 5,250 units transacted on Tuesday to 394,345 units on Wednesday.

This in turn saw the total value of trades rise by 1,616 percent to N11.1 million, showing a difference of 10.5 million as against N647,571 recorded on Tuesday.

Central Securities Clearing System Plc which has its securities trading on the NASD appreciating by 65 kobo or 5 percent to trade at N13 per share from to N12.35 per share.

However, it was the reverse for Niger Delta Exploration and Production Plc as its share price lost N20.09 to sell at N295 from N315.09 per share.

In addition to its increase to its share price, Central Securities Clearing System (CSCS) Plc also retained top position in terms of value by year-to-date with 202,272,698 units worth N2.53 billion transacted from the beginning of this year till date, with UBN Properties following on the list with 884,529,600 units of its stocks sold for N1.2 billion.

While Food Concept Plc retained the top spot on the top trades position by volume (year to date) with a total transaction of 1,158,797,004 units valued at N843.97 billion, while UBN Properties followed with 891,085,220 units worth N1.21 billion.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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